The Calumet & Bisbee Development Company was started on October 20th 1902. A three compartment shaft was started on January 12, 1903. About 1500 ft. from the L.S. & P. Shaft, it originally, had a simple windlass, used for hoisting. By February 12, 1903 a headframe hand been constructed and a hoist cable of serving a 500 ft. shaft installed. The shaft itself was hand drilled. In June 1903 the shaft miners set a district record for shaft  sinking. They opened 137 ft. of shaft in one month by hand drilling. In July a much larger Nordberg hoist capable of servicing a 2,500 ft. shaft replaced the earlier hoist. The shaft was sunk to a depth of 975ft. At 815 ft. water was struck and water entered the mine at 400 gallons per minute, but pumps were installed to handle this water. Six buildings were at the mine, including a bunk house, a boarding house, a mine office and three homes. February 1904 diamond drilling was done, but no significant ore was discovered. At this time development work ceased. As of 1913 the owners were still trying to sell the property.